Adelphia Announces Public Offering of Convertible Subordinated Notes

Apr 18, 2001, 01:00 ET from Adelphia Communications Corporation

    COUDERSPORT, Pa., April 18 /PRNewswire/ --
     Adelphia Communications Corporation (Nasdaq: ADLAC) announced that it
 intends to offer $500,000,000 aggregate principal amount of Convertible
 Subordinated Notes due 2021.  This offering amount is prior to the exercise of
 any underwriters' over-allotment option.  The Company announced that it
 intends to file a supplement to its shelf registration statement with the
 Securities and Exchange Commission for the offering of the Convertible
 Subordinated Notes due 2021.
     Salomon Smith Barney and Banc of America Securities LLC will serve as
 joint book-running managers of the Convertible Subordinated Notes offering.
 The offering will be made only by means of a prospectus.  The anticipated
 timing of the proposed offering will depend upon market conditions.
     Adelphia Communications Corporation, with headquarters in Coudersport,
 Pennsylvania, is the sixth largest cable television company in the country.
 
     This press release shall not constitute an offer to sell or the
 solicitation of an offer to buy nor shall there be any sale of the Convertible
 Subordinated Notes due 2021 in any State in which such offer, solicitation or
 sale would be unlawful prior to registration or qualification under the
 securities laws of any such State.
     The statements in this press release that are not historical facts are
 forward-looking statements that are subject to material risks and
 uncertainties.  Investors are cautioned that any such forward-looking
 statements are not guarantees of future performance or results and involve
 risks and uncertainties, and that actual results or developments may differ
 materially from those in the forward-looking statements as a result of various
 factors which are discussed in the Company's filings with the Securities and
 Exchange Commission.  These risks and uncertainties include, but are not
 limited to, uncertainties relating to general business and economic
 conditions, acquisitions and divestitures, risks associated with the Company's
 growth and financings, the availability and cost of capital, government and
 regulatory policies, the pricing and availability of equipment, materials,
 inventories and programming, product acceptance, the Company's ability to
 execute on its business plans and to construct, expand and upgrade its cable
 systems, fiber optic networks and related facilities, risks associated with
 reliance on the performance and financial condition of vendors and customers,
 technological developments and changes in the competitive environment in which
 the Company operates.  Additional information regarding factors that may
 affect the business and financial results of Adelphia can be found in the
 Company's Form 10-K for the year ended December 31, 2000, as well as in the
 prospectus and most recent prospectus supplement filed under Registration
 Statement No. 333-78027, under the section entitled "Risk Factors" contained
 therein.  The Company does not undertake to update any forward-looking
 statements in this press release or with respect to matters described herein.
 
 

SOURCE Adelphia Communications Corporation
    COUDERSPORT, Pa., April 18 /PRNewswire/ --
     Adelphia Communications Corporation (Nasdaq: ADLAC) announced that it
 intends to offer $500,000,000 aggregate principal amount of Convertible
 Subordinated Notes due 2021.  This offering amount is prior to the exercise of
 any underwriters' over-allotment option.  The Company announced that it
 intends to file a supplement to its shelf registration statement with the
 Securities and Exchange Commission for the offering of the Convertible
 Subordinated Notes due 2021.
     Salomon Smith Barney and Banc of America Securities LLC will serve as
 joint book-running managers of the Convertible Subordinated Notes offering.
 The offering will be made only by means of a prospectus.  The anticipated
 timing of the proposed offering will depend upon market conditions.
     Adelphia Communications Corporation, with headquarters in Coudersport,
 Pennsylvania, is the sixth largest cable television company in the country.
 
     This press release shall not constitute an offer to sell or the
 solicitation of an offer to buy nor shall there be any sale of the Convertible
 Subordinated Notes due 2021 in any State in which such offer, solicitation or
 sale would be unlawful prior to registration or qualification under the
 securities laws of any such State.
     The statements in this press release that are not historical facts are
 forward-looking statements that are subject to material risks and
 uncertainties.  Investors are cautioned that any such forward-looking
 statements are not guarantees of future performance or results and involve
 risks and uncertainties, and that actual results or developments may differ
 materially from those in the forward-looking statements as a result of various
 factors which are discussed in the Company's filings with the Securities and
 Exchange Commission.  These risks and uncertainties include, but are not
 limited to, uncertainties relating to general business and economic
 conditions, acquisitions and divestitures, risks associated with the Company's
 growth and financings, the availability and cost of capital, government and
 regulatory policies, the pricing and availability of equipment, materials,
 inventories and programming, product acceptance, the Company's ability to
 execute on its business plans and to construct, expand and upgrade its cable
 systems, fiber optic networks and related facilities, risks associated with
 reliance on the performance and financial condition of vendors and customers,
 technological developments and changes in the competitive environment in which
 the Company operates.  Additional information regarding factors that may
 affect the business and financial results of Adelphia can be found in the
 Company's Form 10-K for the year ended December 31, 2000, as well as in the
 prospectus and most recent prospectus supplement filed under Registration
 Statement No. 333-78027, under the section entitled "Risk Factors" contained
 therein.  The Company does not undertake to update any forward-looking
 statements in this press release or with respect to matters described herein.
 
 SOURCE  Adelphia Communications Corporation